Halliburton’s (HAL) “Sector Perform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reaffirmed their sector perform rating on shares of Halliburton (NYSE:HALFree Report) in a research report report published on Thursday morning,Benzinga reports. The brokerage currently has a $34.00 target price on the oilfield services company’s stock.

Several other brokerages also recently weighed in on HAL. Griffin Securities downgraded Halliburton from a “buy” rating to a “neutral” rating in a report on Friday, December 20th. Bank of America decreased their target price on shares of Halliburton from $40.00 to $38.00 and set a “buy” rating for the company in a report on Monday, October 14th. BMO Capital Markets cut their price target on shares of Halliburton from $40.00 to $38.00 and set a “market perform” rating on the stock in a report on Thursday, October 10th. Susquehanna decreased their price objective on shares of Halliburton from $42.00 to $40.00 and set a “positive” rating for the company in a report on Friday, November 8th. Finally, Barclays cut their target price on Halliburton from $32.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Thursday. Seven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, Halliburton presently has an average rating of “Moderate Buy” and a consensus price target of $37.42.

Check Out Our Latest Report on Halliburton

Halliburton Price Performance

HAL opened at $27.83 on Thursday. The company has a current ratio of 2.05, a quick ratio of 1.62 and a debt-to-equity ratio of 0.68. The company has a market cap of $24.45 billion, a price-to-earnings ratio of 9.83, a price-to-earnings-growth ratio of 3.58 and a beta of 1.91. The stock has a fifty day simple moving average of $28.81 and a two-hundred day simple moving average of $29.99. Halliburton has a 12-month low of $25.51 and a 12-month high of $41.56.

Halliburton (NYSE:HALGet Free Report) last issued its quarterly earnings results on Thursday, November 7th. The oilfield services company reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.02). The business had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.83 billion. Halliburton had a return on equity of 26.03% and a net margin of 10.90%. The firm’s revenue was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.79 earnings per share. Research analysts predict that Halliburton will post 2.94 earnings per share for the current fiscal year.

Halliburton Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 26th. Shareholders of record on Wednesday, December 4th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.44%. The ex-dividend date of this dividend was Wednesday, December 4th. Halliburton’s dividend payout ratio is presently 24.03%.

Institutional Investors Weigh In On Halliburton

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Country Trust Bank bought a new position in Halliburton in the 3rd quarter worth $36,000. Modus Advisors LLC bought a new position in shares of Halliburton in the fourth quarter worth about $38,000. Continuum Advisory LLC grew its position in shares of Halliburton by 101.2% during the third quarter. Continuum Advisory LLC now owns 1,388 shares of the oilfield services company’s stock worth $42,000 after purchasing an additional 698 shares in the last quarter. ORG Wealth Partners LLC purchased a new position in Halliburton in the 3rd quarter worth approximately $44,000. Finally, Venturi Wealth Management LLC boosted its stake in Halliburton by 34.2% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,618 shares of the oilfield services company’s stock worth $47,000 after purchasing an additional 412 shares during the period. 85.23% of the stock is owned by hedge funds and other institutional investors.

Halliburton Company Profile

(Get Free Report)

Halliburton Company provides products and services to the energy industry worldwide. It operates through two segments, Completion and Production, and Drilling and Evaluation. The Completion and Production segment offers production enhancement services that include stimulation and sand control services; cementing services, such as well bonding and casing, and casing equipment; and completion tools that offer downhole solutions and services, including well completion products and services, intelligent well completions, and service tools, as well as liner hanger, sand control, and multilateral systems.

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Analyst Recommendations for Halliburton (NYSE:HAL)

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